EnergyWatch

Nordex poised to sell large asset portfolio

Germany's largest utility aims to expand its renewable energy portfolio with the purchase of a 2.7 GW project pipeline, mainly in France but also in Sweden, Spain and Poland.

Photo: Nordex/K.foto/Michael Kottmeier

Nordex is close to securing a much-needed capital injection. The German OEM has entered exclusive talks with major compatriot utility RWE regarding the sale of a 2.6 GW onshore wind project portfolio as well as roughly 100 MW of solar capacity for a reported price of EUR 405.2 million. Pending final signatures and authorities' rubber stamp, the transaction is expected to be executed in this year's fourth quarter, RWE and Nordex inform in separate statements.

Most of these projects – 1.9 GW in various stages of development – are located in France, but a few can also be found in Sweden, Spain and Poland. The manufacturer writes that a dialog is now getting started with French labor representatives. The group is also seeking special approval from authorities due to the fact that a non-French firm will be taking over a business categorized as critical infrastructure.

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